Global Sensors Market to Reach US$74.2 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Sensors market. Global sensors market is projected to reach US$74.2 billion by 2015. Industrialization and trade liberalization induced highly efficient bulk manufacturing activities, global distribution and growing levels of automation of operations, which have been longstanding growth drivers in the market will continue to push gains across major end-use industries, in the post recession period.

Sensors: A Global Strategic Business Report

Sensors are primary elements for most technology products built today. Sensors’ application areas span simple switches and temperature sensing devices as a part of the most basic of home appliances to sophisticated sensors in advanced manufacturing equipment and factory automation systems. The advent of micro-technology has revolutionized the electronics industry so much so that miniaturization has now become a cue word across the globe. Simultaneously, industrial requirements have also been healthy and promising, indicating a positive inducement for sensors. Automotive safety markets reacted swiftly creating demand for accelerometers, while Hall-effect sensors also made it into the automotive systems. On an equal footing, the environment protection regulations and safety equipment industry’s support is also crucial, which creates additional demand for sensors used in gas detection equipment.

As sensors embody the core of all electronics, industrial, and consumer products, the volatility of the end-use industries has a direct bearing on the sensor market. The year 2009 was a challenging year for electronics, process & manufacturing industries, HVAC & building control, automotive industry and correspondingly for sensors. The sharp downturn in the global economy, uncertainty over the development of end-markets, inventory levels, and pricing pressures, significantly affected the overall business environment. Weakening momentum in most industrialized economies, and the volatility of the end-user industry, and tight credit conditions temporarily dislodged growth in global sensors market.

As stated by the new market research report on Sensors, Europe and the US, together account for a major share of the global sensors market. Although North America is the largest market for sensors, market growth is expected to emanate from developing countries in Asia-Pacific, in the next few years. Technological refinements in terms of improved efficiency and performance will re-emerge to drive growth in the marketplace. Segment wise, Chemical sensors market represents the largest market for sensors. Chemical sensors industry witnessed moderate slowdown in the year 2009 as decline in use by end-use markets such as automotive and biometric verticals were to a large extent counterbalanced by the indispensable use of chemical sensors in medical diagnostic, process monitoring and control, and HVAC control applications.

Global image sensors market, which witnessed a severe demand decline in 2009, is expected to bounce back with a vengeance in 2010, given the improving sales of camera phones, digital cameras and machine-vision systems. Automotive sector, the largest end use market for sensors, experienced a decline in 2009 following recession-reduced demand for vehicles across the globe. Improvements in safety features of vehicles, fuel economy and emissions will encourage market growth during the 2011 through 2015 period. Mandates are expected to continue being the market drivers, given that electronic stability control (ESC) systems are scheduled to become mandatory requirements for vehicles in the US by 2012, and in the Europe by 2014.

Leading players in the global market include Analog Devices, Allegro MicroSystems Inc, Atmel Corporation, Bosch Sensortec, Bourn Inc., City Technology, Continental Automotive Systems, Corrsys-Datron, CTS Automotive, Dalsa, Denso Corporation, Eaton Corp, ELMOS Semiconductor, Honeywell, GE Security, Goodrich Corporation, Melexis Microelectronic Integrated Systems, OmniVision Technologies, Rockwell Collins, Siemens, Sensata Technologies, STMicroelectronics, TRW Automotive Holdings Inc, TT Electronics, among others.

The research report titled "Sensors: A Global Strategic Business Report" announced by Global Industry Analysts, Inc. provides a comprehensive review of industry overview, end-use sectors, market trends and issues, growth drivers, product profile, players, competition, mergers, acquisitions, and other strategic industry activities. Analysis is presented for major geographic markets such as United States, Canada, Japan, France, Germany, the UK, Italy, Asia (China, Korea, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America) and Rest of World. Key segments analyzed include Pressure Sensors, Chemical Sensors, Flow Sensors, Level Sensors, Temperature Sensors, Proximity & Displacement Sensors, Force and Load Sensors, Position Sensors, Image Sensors and Fiber Optic Sensors. End-use segments analyzed include Automobile Applications, Process & Manufacturing Industries, Machine Tools & General Machinery, HVAC & Building Control, and Office Automation & Communication.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Sensors_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press(at)StrategyR(dot)com
Web Site http://www.StrategyR.com/

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